Melting Pot Streamlines Gift Card Management with Paytronix
The Melting Pot Restaurants, Inc. migrated its gift card program to Paytronix Systems, Inc. in an effort to more consistently manage the execution of the program across more than 125 of the franchise’s restaurants.
The Melting Pot offers a popular gift card program, which has boosted the brand’s sales during the holiday season and throughout the year. Yet, the continued growth of The Melting Pot franchise, with more than 15 new restaurants in development around the world, had lately made management of the gift card program increasingly complex. The system was originally designed so that when franchisees sell gift cards, they maintain that liability. Consequently, The Melting Pot was finding it a challenge to track and monitor each card individually from sales to redemption. Paytronix was selected to streamline that process.
“It was always a tricky process to total the monthly figures in spreadsheets and move the appropriate money to each of our various restaurants to match gift card activity they’d performed,” said Scott Pierce, Chief Financial Officer for Front Burner Brands, restaurant management company for The Melting Pot Restaurants, Inc. “With Paytronix, it’s easy for me and each restaurant to run reports. With one click, the software lets each franchise see its store’s exact outstanding gift card liability.”
Paytronix automated the gift card accounting process that used to take Pierce and his team a full day of work each month. The Paytronix platform streamlines the gift card program with:
· Simplified accounting – from money movement to discount tracking to liability and escheatment reporting, helping clients keep track of third party sales channels
· Automated processes – with special accounting and management to determine what portion of a gift card’s sale goes to which party
· Discount tracking – provides The Melting Pot and other franchises with an organized way to track discounts by sales channel such as Blackhawk, Costco, or other third-party gift card sales channels.
The Melting Pot offers a popular gift card program, which has boosted the brand’s sales during the holiday season and throughout the year. Yet, the continued growth of The Melting Pot franchise, with more than 15 new restaurants in development around the world, had lately made management of the gift card program increasingly complex. The system was originally designed so that when franchisees sell gift cards, they maintain that liability. Consequently, The Melting Pot was finding it a challenge to track and monitor each card individually from sales to redemption. Paytronix was selected to streamline that process.
“It was always a tricky process to total the monthly figures in spreadsheets and move the appropriate money to each of our various restaurants to match gift card activity they’d performed,” said Scott Pierce, Chief Financial Officer for Front Burner Brands, restaurant management company for The Melting Pot Restaurants, Inc. “With Paytronix, it’s easy for me and each restaurant to run reports. With one click, the software lets each franchise see its store’s exact outstanding gift card liability.”
Paytronix automated the gift card accounting process that used to take Pierce and his team a full day of work each month. The Paytronix platform streamlines the gift card program with:
· Simplified accounting – from money movement to discount tracking to liability and escheatment reporting, helping clients keep track of third party sales channels
· Automated processes – with special accounting and management to determine what portion of a gift card’s sale goes to which party
· Discount tracking – provides The Melting Pot and other franchises with an organized way to track discounts by sales channel such as Blackhawk, Costco, or other third-party gift card sales channels.